The exploration arm of mining major Rio Tinto is expected to make its first $500 000 payment to ASX-listed junior Strandline Resources after completing a due diligence on that company’s heavy mineral sands tenements in Tanzania.
Rio Tinto and Strandline in April this year inked an earn-in and joint venture (JV) agreement that could see Rio earn a 75% interest in the project area for a total consideration of $10.75-million.
